Indian Conglomerate Adani Group Fights Back: Bribery Allegations Labeled Baseless

The Adani Group, a key driver in India’s renewable energy sector, has firmly denied bribery charges brought by the US Department of Justice (DoJ) and SEC. The allegations, involving $250 million in bribes for solar energy contracts, have been rejected as unfounded. The group emphasized its adherence to international laws and promised to explore all legal remedies.

In a detailed statement, Adani highlighted its commitment to governance and transparency, underscoring its reputation as a reliable partner in clean energy ventures. These principles resonate strongly in its collaboration with Japan, where energy partnerships have flourished.

The news initially impacted Adani Enterprises and Adani Green stocks, but their recovery demonstrated investor confidence. The group’s decision to withdraw its dollar bond offering indicates its cautious approach amid heightened scrutiny.

Japan, a significant partner in India’s energy transformation, has worked with Adani Group on clean energy projects, aligning with global sustainability goals.

Adani Group’s Full Media Statement

The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied.

As stated by the US Department of Justice itself, “the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.” All possible legal recourse will be sought.

The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws.